Rio Tinto may consider re-entry to Uzbek mining market (Exclusive)

Uzbekistan Materials 6 March 2018 10:30 (UTC +04:00)

Baku, Azerbaijan, March 6

By Fikret Dolukhanov – Trend:

Rio Tinto, an Australian-British mining corporation, may consider re-entering the Uzbek market, a source in the company told Trend on March 6.

“We believe in geological potential of Uzbekistan and will monitor the reforms in the country to see if there is a sustainable improvement in international investment opportunities before considering re-entry,” the source said, commenting on the recent news regarding Uzbekistan inviting the corporation to resume its operation in the country.

Uzbekistan sent Rio Tinto, an Australian-British mining corporation, review materials for resumption of cooperation and plans to invite the company to invest in copper mining in the country, Uzbek media reported on March 5.

In 2012, the State Committee issued the company a five-year-long license for geological survey work on copper detection in Gava prospected area in Namangan province. Rio Tinto decided to cease the project due to unfavorable price conjuncture after the completion of the first stage of work in 2015.

Almalyk Mining Works is currently the only copper producer in Uzbekistan. Raw materials are delivered from Kalmakyr and Sary-Cheku copper-porphyry mines.